Image: Fox BusinessUS Loans 10 Million More Barrels from Strategic Petroleum Reserve Amid $112 Crude Spike
β’ The U.S. Energy Department announced plans Wednesday to loan an additional 10 million barrels of crude from the Strategic Petroleum Reserve as part of a 172 million-barrel drawdown. β’ West Texas Intermediate crude prices exceeded $112 per barrel due to ongoing Iran conflict disruptions, prompting the reserve release to curb domestic fuel costs. β’ Critics warn the extensive SPR drawdown heightens U.S. energy vulnerabilities during prolonged geopolitical tensions and supply chain risks through key chokepoints.
foxbusiness.com